The QE index in Qatar declined 0.6% led by declines in the real estate and industrial indices. Masraf Al Rayan and Gulf International Services were the top losers. Trading volume declined compared to the previous day. Indices in other Gulf markets were mixed with Saudi Arabia up 0.5% and Dubai down 2.3%.

1. Page 1 of 4
QE Intra-Day Movement
Qatar Commentary
The QE index declined 0.6% to close at 9,424.4. Losses were led by the Real
Estate and Industrials indices, declining 0.8% and 0.7% respectively. Top losers
were Masraf Al Rayan and Gulf International Services, falling 1.8% and 1.7%
respectively. Among the top gainers, Qatar Electricity & Water Co. rose 1.6%,
while Al Meera Consumer Goods Co. gained 0.8%.
GCC Commentary
Saudi Arabia: The TASI index gained 0.5% to close at 7,330.5. Gains were
led by the Real Estate Development and Hotel & Tourism indices, rising 3.7%
and 2.3% respectively. Makkah Construction & Development Co. rose 8.8%,
while Tourism Enterprise Co. was up 7.6%.
Dubai: The DFM index fell 2.3% to close at 2,345.5. The Investment &
Financial Services index declined 3.6%, while the Services index was down
3.0%. Ekttitab Holding Co. fell 4.5%, while Dubai Investment was down 3.8%.
Abu Dhabi: The ADX benchmark index declined 0.9% to close at 3,630.4. The
Real Estate index fell 2.9%, while the Industrial index was down 0.9%.
National Marine Dredging Co. declined 10.0%, while Green Crescent
Insurance Co. was down 9.9%.
Kuwait: The KSE index rose 0.3% to close at 7,955.1. Gains were led by the
Oil & Gas and Telecommunication indices, gaining 1.5% and 0.9%
respectively. Hayat Communications Co. rose 8.9%, while Kuwait Co. for
Process Plant Cons. & Cont. was up 7.7%.
Oman: The MSM index declined 1.1% to close at 6,484.2. The Banking &
Investment index fell 1.6%, while the Services & Insurance index was down
0.9%. Oman Oil Marketing declined 5.4%, while Gulf Int. Chemicals fell 4.5%.
Qatar Exchange Top Gainers Close* 1D% Vol. ‘000 YTD%
Qatar Electricity & Water Co. 155.70 1.6 51.9 17.6
Al Meera Consumer Goods Co. 139.10 0.8 62.5 13.6
Dlala Brok. & Inv. Holding Co. 28.90 0.7 536.3 (7.0)
Qatar German Co. for Med. Dev. 15.70 0.6 805.3 6.2
Qatar Fuel Co. 259.40 0.5 37.1 17.9
Qatar Exchange Top Vol. Trades Close* 1D% Vol. ‘000 YTD%
United Development Co. 24.09 0.2 2,485.0 35.3
Barwa Real Estate Co. 27.35 (1.6) 1,240.0 (0.4)
Qatar Gas Transport Co. 18.50 0.0 933.7 21.2
Masraf Al Rayan 27.35 (1.8) 918.7 10.3
Qatar German Co. for Med. Dev. 15.70 0.6 805.3 6.2
Market Indicators 16 June 13 13 June 13 %Chg.
Value Traded (QR mn) 440.9 654.1 (32.6)
Exch. Market Cap. (QR mn) 517,552.9 519,959.2 (0.5)
Volume (mn) 12.2 14.9 (18.2)
Number of Transactions 5,317 6,776 (21.5)
Companies Traded 37 40 (7.5)
Market Breadth 8:28 14:22 –
Market Indices Close 1D% WTD% YTD% TTM P/E
Total Return 13,465.32 (0.6) (0.6) 19.0 N/A
All Share Index 2,384.61 (0.5) (0.5) 18.4 13.0
Banks 2,230.15 (0.5) (0.5) 14.4 12.0
Industrials 3,185.56 (0.7) (0.7) 21.3 11.8
Transportation 1,703.50 (0.6) (0.6) 27.1 12.0
Real Estate 1,913.64 (0.8) (0.8) 18.7 12.2
Insurance 2,317.70 (0.6) (0.6) 18.0 15.2
Telecoms 1,313.28 (0.2) (0.2) 23.3 15.0
Consumer 5,596.20 0.3 0.3 19.8 22.8
Al Rayan Islamic Index 2,860.82 (0.9) (0.9) 15.0 14.3
GCC Top Gainers##
Exchange Close#
1D% Vol. ‘000 YTD%
Makkah Cons. & Dev. Saudi Arabia 65.00 8.8 1,189.0 60.1
Taiba Holding Co. Saudi Arabia 33.10 6.1 3,105.5 33.2
Tabuk Cement Saudi Arabia 26.60 4.3 810.0 9.7
Dar Al Arkan Saudi Arabia 9.90 4.2 65,314.6 20.0
Al-Hassan G.I. Shaker Saudi Arabia 84.25 4.0 136.2 30.6
GCC Top Losers##
Exchange Close#
1D% Vol. ‘000 YTD%
Nat. Marine Dredging Abu Dhabi 8.56 (10.0) 3.6 (14.4)
Abu Dhabi Nat. Hotels Abu Dhabi 2.30 (5.3) 150.3 29.9
Dubai Investments Dubai 1.52 (3.8) 26,529.8 78.4
Dubai Financial Market Dubai 1.94 (3.5) 43,699.8 90.2
Aldar Properties Abu Dhabi 2.34 (3.3) 89,299.3 84.3
Source: Bloomberg (
#
in Local Currency) (
##
GCC Top gainers/losers derived from the Bloomberg GCC
200 Index comprising of the top 200 regional equities based on market capitalization and liquidity)
Qatar Exchange Top Losers Close* 1D% Vol. ‘000 YTD%
Masraf Al Rayan 27.35 (1.8) 918.7 10.3
Gulf International Services 45.80 (1.7) 238.0 52.7
Doha Insurance Co. 27.05 (1.6) 18.6 10.2
Barwa Real Estate Co. 27.35 (1.6) 1,240.0 (0.4)
Gulf Warehousing Co. 42.90 (1.6) 58.0 28.1
Qatar Exchange Top Val. Trades Close* 1D% Val. ‘000 YTD%
United Development Co. 24.09 0.2 59,264.2 35.3
Industries Qatar 164.50 (1.2) 51,021.6 16.7
Barwa Real Estate Co. 27.35 (1.6) 33,902.8 (0.4)
Commercial Bank of Qatar 71.30 (1.0) 31,260.7 0.6
QNB Group 154.00 0.3 26,086.0 17.6
Source: Bloomberg (* in QR)
Regional Indices Close 1D% WTD% MTD% YTD%
Exch. Val. Traded
($ mn)
Exchange Mkt.
Cap. ($ mn)
P/E** P/B**
Dividend
Yield
Qatar* 9,424.41 (0.6) (0.6) 2.0 12.7 121.09 142,120.0 11.9 1.7 4.9
Dubai 2,345.47 (2.3) (2.3) (0.9) 44.6 129.73 60,798.3 15.1 1.0 3.6
Abu Dhabi 3,630.37 (0.9) (0.9) 1.9 38.0 125.74 104,655.1 11.1 1.3 4.8
Saudi Arabia 7,330.48 0.5 (3.8) (1.0) 7.8 1,910.82 392,478.6 15.6 1.9 3.7
Kuwait 7,955.12 0.3 0.3 (4.2) 34.1 218.59 108,927.8 24.8 1.4 3.4
Oman 6,484.23 (1.1) (1.1) 1.0 12.6 15.10 22,913.8#
11.0 1.7 4.3
Bahrain 1,198.80 0.0 0.0 0.2 12.5 0.24 21,300.2 8.7 0.8 4.1
Source: Bloomberg, Qatar Exchange, Tadawul, Muscat Securities Exchange, Dubai Financial Market and Zawya (** TTM; * Value traded ($ mn) do not include special trades, if any) (
#
Data as of June 13)
9,300
9,350
9,400
9,450
9,500
9:30 10:00 10:30 11:00 11:30 12:00 12:30 13:00

2. Page 2 of 4
Qatar Market Commentary
 The QE index declined 0.6% to close at 9,424.4. The Real
Estate and Industrials indices led the losses. The index declined
on the back of selling pressure from non-Qatari shareholders
despite buying support from Qatari shareholders.
 Masraf Al Rayan and Gulf International Services were the top
losers, falling 1.8% and 1.7% respectively. Among the top
gainers, Qatar Electricity & Water Co. rose 1.6%, while Al Meera
Consumer Goods Co. gained 0.8%.
 Volume of shares traded on Sunday declined by 18.2% to
12.2mn from 14.9mn on Thursday. Further, as compared to the
30-day moving average of 12.3mn, volume for the day was 1.0%
lower. United Development Co. and Barwa Real Estate Co. were
the most active stocks, contributing 20.4% and 10.2% to the total
volume respectively.
Source: Qatar Exchange (* as a % of traded value)
News
Qatar
 QSA: 5,834 ships docked at Qatar ports in 2012 – According
to a report released by Qatar Statistics Authority (QSA), 5,834
vessels docked at different ports in Qatar in 2012. Their gross
tonnage amounted to 294.9mn, an increase of 8.1% compared
to the previous year. Net tonnage was 128.0mn, an increase of
7.6% compared to the previous year. The main types of vessels
were oil and gas tankers totaling 2,636 vessels with a tonnage
of 238.7mn, an increase of 3.7% compared to 2011. Ras Laffan
port accounted for the highest share, with 2,123 vessels docked
in, followed by Mesaieed (2,082 vessels). Most of the vessels
were registered in Panama (961), followed by Marshal Islands
with 626 vessels and Bahamas with 402 vessels. (Gulf-
Times.com)
 RasGas targets 90% flare reduction by 2017 – RasGas is
targeting a 90% reduction in gas flaring by 2017 based on the
2005 level as part of its five-year plan launched in 2012. (Gulf-
Times.com)
 Qatar Airways takes delivery of sixth 787 Dreamliner – Qatar
Airways has taken delivery of its sixth Boeing 787 Dreamliner
and plans to announce new destinations on which the aircraft
will operate. (Bloomberg)
International
 Britain tries to stem tax dodges ahead of G8 summit –
Britain turned up the pressure on other rich economies to clamp
down on secretive money flows at the upcoming G8 summit by
pressing its own overseas tax havens into a transparency deal
and announcing new disclosure rules for British firms. The UK
Prime Minister David Cameron wants to make progress on
closing global tax loopholes, when he hosts a meeting of leaders
of the Group of Eight economies in Northern Ireland this week.
(Economic Times)
 Italy approves measures aimed at boosting economy – The
Italian government has adopted a series of measures aimed at
boosting the economy, including the release of €3bn for
infrastructure projects projected to create 30,000 new jobs.
Italian Premier Enrico Letta said the measures, based on
recommendations from the European Commission, would help
Italians contribute to restarting the moribund economy.
(Economic Times)
 India sets up special window for SWFs – India is creating a
special window in the government securities (G-Secs) segment
for sovereign wealth funds (SWFs) and other long-term funds,
with ease of entry and exit. Under this, India enhanced the limit
for foreign investment in government securities from $25bn to
$30bn with immediate effect. The $5bn increase shall be
available for investments only to foreign institutional investors
(FIIs) registered with the Securities and Exchange Board of
India (SEBI) under the categories of SWFs, multilateral
agencies, endowment funds, insurance funds, pension funds
and foreign central banks. (Gulf-Times.com)
Regional
 Saudi inflation slows to 3.8% YoY in May – According to the
data released by the Central Department for Statistics &
Information (CDSI), inflation in Saudi Arabia for May 2013
slowed down to 3.8% YoY as compared with 4% in April. The
data showed that the main contributor to the overall easing of
inflation was a fall in the core index – which excludes food &
housing components – to 2.6% in May from 3.4% in April.
Meanwhile, food & beverage prices edged up to 6.4% in May
versus 6.2% in April, while rental & housing prices rose to 3.6%
from 3.0%. The data also showed that Saudi Arabia’s non-oil
exports rose 3.3% YoY to SR17.8bn in April and imports rose
8.5% YoY to SR53.5bn. (GulfBase.com)
 Moody’s: Saudi Banks to benefit from growth in domestic
sukuk market – The rating agency Moody’s said the Saudi
sukuk market will continue to grow over the next 12-18 months,
following a new record SR25.2bn issuance of Riyal-
denominated sukuk in 2012. The rating agency said strong
sukuk issuance has continued in 2013, with SR11.6bn already
issued during 1Q2013. Moody’s believe that the growing sukuk
market will be credit positive for Saudi Banks because it will
provide a deeper pool of Shari'ah compliant securities to
facilitate liquidity management and support profitability at Islamic
financial institutions (IFIs). It also believe that growth will support
more term funding for all banks and ultimately encourage the
reduction of persistent asset-liability mismatches, whilst
facilitating further loan growth given regulatory constraints on
loan-to-deposit ratios. (Moody’s)
 BMI: Saudi agribusiness market value to rise 6.3% till 2017
– According to a report by Business Monitor International (BMI),
the value of Saudi Arabia’s agribusiness market stands at
$2.2bn in 2013, which will increase by 6.3% on average per year
between 2012 and 2017. The report said that the country’s real
GDP growth stands at 4.1% YoY in 2013, down from 6.8% in
2012, but projected to grow at an average 3.4% from 2012 to
2017. The report also said that consumer price index is forecast
Overall Activity Buy %* Sell %* Net (QR)
Qatari 72.11% 68.25% 16,987,913.20
Non-Qatari 27.90% 31.75% (16,987,913.20)

3. Page 3 of 4
to average at 4.5% in 2013, similar to the rate between 2012
and 2017. (GulfBase.com)
 Saudi Kayan signs agreement with Sadara, SAAC for n-
butanol project – Saudi Kayan Petrochemical Company has
signed tolling & processing agreements with Sadara Chemical
Company, Saudi Acrylic Acid Company (SAAC) and Saudi
Butanol Company (Sabuco). Sabuco is a special purpose joint
venture established by Saudi Kayan, Sadara and SAAC for the
purpose of owning and funding a butanol production plant. The
tolling & processing agreement governs the terms on which
Saudi Kayan, Sadara and SAAC shall supply propylene to the
butanol plant for conversion into butanol products, and their
rights to off-take these butanol products. Scheduled to go on
stream in 1Q2015, the design capacity of the butanol plant is
330,000 metric tons of n-butanol and 11,000 metric tons of iso-
butanol per annum. (Tadawul)
 Saudi Aramco-Dow JV raises funding for $19.3bn project –
Sadara Chemical Company, a JV between Saudi Aramco and
Dow Chemical, has signed a fundraising package for a $19.3bn
petrochemical complex being built at Jubail Industrial City in
Saudi Arabia's Eastern Province. The financing package totals
around $12.5bn and consists of loans from banks, export credit
agencies and the state-owned Public Investment Fund, as well
as proceeds from an Islamic bond issue. The remaining funds
will be arranged by the two partners. The facility will be the
world's largest chemical complex ever built in a single phase.
When completed in 2016, the facility will produce around 3mn
tons of petrochemicals every year. (Reuters)
 Jouf Cement to halt production for maintenance – Saudi-
based Al Jouf Cement Company (Jouf Cement) said it will stop
its cement production line for unscheduled maintenance works
from June 17 to June 30, 2013. Jouf Cement said that the
maintenance work is expected to cost about SR6mn, which will
be reflected in its 2Q2013 financial results. (Gulf-Times.com)
 Mubarrad extends MoU with BHCC – The Saudi Transport &
Investment Company (Mubarrad) has approved the request of
the Beautiful Home Contracting Company (BHCC) to extend the
duration of their MoU by three months commencing from June
17, 2013. (Tadawul)
 Metito gets $70mn loan to boost expansion – UAE-based
water & waste-water specialist Metito has secured a $70mn
long-term financing to support its expansion plans in Indonesia,
Egypt and China. Metito said that it remains interested in an
international public listing as well. (Qatar Tribune)
 Etihad starts flights to Belgrade – Abu Dhabi-based Etihad
Airways has begun flight services to Belgrade, the capital of
Serbia. Etihad Airways is using the JU code of Serbia’s national
carrier, JatAirways. (GulfBase.com)
 DWC unveils new storage facility in Logistics District – The
Dubai World Central (DWC) has announced that a new storage
facility owned by RSA-TALKE is being constructed in DWC's
Logistics District, which is expected to be operational by
1Q2014. (AME Info)
 Waha Capital acquires AAH – Waha Capital has acquired
Anglo Arabian Healthcare Company (AAH), a new healthcare
group set up to own & operate hospitals, clinics, pharmacies and
diagnostic centers across the UAE. (ADX)
 SEWA signs substation deal with Siemens to boost power
reliability, efficiency in Sharjah – The Sharjah Electricity &
Water Authority (SEWA) has awarded a turnkey contract to
Siemens for the supply of three high-voltage substations to
boost power reliability and efficiency in the Emirate. This project
is scheduled to be completed in 16 months. (AME Info)
 CBO issues CDs worth OMR372mn – The Central Bank of
Oman’s (CBO) last week’s tender of certificates of deposits
(CD) allotted OMR372mn with an average interest rate at
0.13%, while the maximum accepted interest rate was 0.13%.
The tenor of these certificates is 28 days and their maturity date
is July 10, 2013. (GulfBase.com)
 BAS gets tender for catering services to Salmaniya Medical
Centre – Bahrain Airport Services (BAS) has obtained a tender
from the Ministry of Health to provide breakfast catering services
to the patients of Salmaniya Medical Centre for an initial trial
period of six months. (AME Info)

4. Contacts
Ahmed M. Shehada Keith Whitney Saugata Sarkar Sahbi Kasraoui
Head of Trading Head of Sales Head of Research Manager - HNWI
Tel: (+974) 4476 6535 Tel: (+974) 4476 6533 Tel: (+974) 4476 6534 Tel: (+974) 4476 6544
ahmed.shehada@qnbfs.com.qa keith.whitney@qnbfs.com.qa saugata.sarkar@qnbfs.com.qa sahbi.alkasraoui@qnbfs.com.qa
QNB Financial Services SPC
Contact Center: (+974) 4476 6666
PO Box 24025
Doha, Qatar
DISCLAIMER: This publication has been prepared by QNB Financial Services SPC (“QNBFS”) a wholly-owned subsidiary of Qatar National Bank (“QNB”). QNBFS is regulated by the Qatar
Financial Markets Authority and the Qatar Exchange; QNB is regulated by the Qatar Central Bank. This publication expresses the views and opinions of QNBFS at a given time only. It is not an
offer, promotion or recommendation to buy or sell securities or other investments, nor is it intended to constitute legal, tax, accounting, or financial advice. We therefore strongly advise potential
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Page 4 of 4
Rebased Performance Daily Index Performance
Source: Bloomberg Source: Bloomberg
Source: Bloomberg Source: Bloomberg
80.0
90.0
100.0
110.0
120.0
130.0
140.0
Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
QE Index S&P Pan Arab S&P GCC
0.5%
(0.6%)
0.3%
0.0%
(1.1%)
(0.9%)
(2.3%)
(2.8%)
(2.1%)
(1.4%)
(0.7%)
0.0%
0.7%
SaudiArabia
Qatar
Kuwait
Bahrain
Oman
AbuDhabi
Dubai
Asset/Currency Performance Close ($) 1D% WTD% YTD% Global Indices Performance Close 1D% WTD% YTD%
Gold 1,390.74 0.0 0.0 (17.0) DJ Industrial 15,070.18 0.0 0.0 15.0
Silver 22.09 0.0 0.0 (27.2) S&P 500 1,626.73 0.0 0.0 14.1
Crude Oil (Brent) 105.95 0.0 0.0 (6.1) NASDAQ 100 3,423.56 0.0 0.0 13.4
Euro 1.33 0.0 0.0 1.2 DAX 8,127.96 0.0 0.0 6.8
Yen 94.31 0.0 0.0 8.7 FTSE 100 6,308.26 0.0 0.0 7.0
GBP 1.57 0.0 0.0 (3.4) CAC 40 3,805.16 0.0 0.0 4.5
CHF 1.09 0.0 0.0 (0.6) Nikkei 12,686.52 0.0 0.0 22.0
AUD 0.96 0.0 0.0 (7.9) Shanghai 2,162.04 0.0 0.0 (4.7)
USD Index 80.67 0.0 0.0 1.1 BSE Sensex 19,177.93 0.0 0.0 (1.3)
RUB 31.72 0.0 0.0 3.9 Bovespa 49,332.34 0.0 0.0 (19.1)
BRL 0.47 0.0 0.0 (4.6) RTS 1,293.88 0.0 0.0 (15.3)
135.4
117.7
107.0